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Charlottesville, VA, March 30, 2016 The personal financial support required by a
person with Alzheimers disease may ultimately deprive care contributors of basic
necessities, such as food, transportation and medical care, according to the 2016
Alzheimers disease Facts and Figures report released today. Alzheimers
Associations Facts and Figures shows that these care contributors were 28 percent
more likely to eat less or go hungry while contributing care to someone with
Alzheimers, and one-fifth of them sacrificed their own medical care by cutting back
on doctor visits. Overall, nearly half of care contributors cut back on their own
expenses to afford dementia-related care for their family member or friend.
The devastating emotional and physical effects of caring for a person with
Alzheimers disease has been well studied, said Sue Friedman,, president & CEO of
the Central and Western Virginia Chapter of the Alzheimers Association. However,
this new report shows, for the first time, the enormous personal financial sacrifices
that millions of care contributors must make every day. These sacrifices jeopardize
the financial security of individuals and families, as well as their access to basic needs
and health care.
Today it is estimated that 5.4 million Americans have Alzheimers disease, and nearly
16 million family members and friends are caregivers providing financial, physical
and emotional support. Financial depletion related to the support of someone living
with Alzheimers can occur directly when family and friends contribute to in-home
care or other health care resources. The Alzheimers Association Facts and Figures
report found that 13 percent of care contributors sold personal belongings, such as a
car, to help pay for costs related to dementia, while nearly half tapped into savings or
retirement funds. On average, care contributors, many of whom do not live with the
person theyre caring for, spent more than $5,000 a year of their own money to care
for someone with Alzheimers disease; however, amounts varied with many spending
tens of thousands of dollars per year.
Look at retirement planning as a time to think about how to prepare for the
need for long-term medical care. After an Alzheimers diagnosis, your options
may be more limited.
Conduct an inventory of your financial resources (for example, savings,
insurance, retirement benefits, government assistance, VA benefits, etc.). A
financial planner or elder care attorney can help with this.
Investigate long-term care services (for example, home care, assisted living
residences and nursing homes) in your area. Ask what types of insurance they
accept and if they accept Medicaid as few individuals with Alzheimers and
other dementias have sufficient long-term care insurance or can afford to pay
out-of-pocket for long-term care services for as long as they are needed.
Call the local Agency on Aging to determine what community services and
support programs are available (for example, respite care, homemaker services
and Meals on Wheels can help alleviate financial burdens).
Once you understand what you have for financial resources and what you can
afford, make a plan with your family or a close friend for how to access care.
To increase assistance for families affected by Alzheimers, the Alzheimers
Association also supports the HOPE for Alzheimers Act, which would provide
Medicare coverage for comprehensive care planning services following an
Alzheimers or dementia diagnosis. Individuals can ask their legislator to co-sponsor
and support the HOPE for Alzheimers Act.
Alzheimers disease by the Numbers
The 2016 Facts and Figures report provides an in-depth look at the prevalence,
incidence, mortality and economic impact of Alzheimers disease and other dementias
all of which continue to rise at staggering rates as the American population ages.
Prevalence, Incidence and Mortality
An estimated 5.4 million Americans have Alzheimers disease in 2016,
including 140,000 in Virginia. This includes an estimated 5.2 million people
age 65 and older, and approximately 200,000 individuals under age 65 who
have younger-onset Alzheimers. Barring the development of medical
breakthroughs, the number will rise to 13.8 million by 2050.
Every 66 seconds, someone in the U.S. develops Alzheimers. By mid-century,
someone in the U.S. will develop the disease every 33 seconds.
Approximately 476,000 peoplealmost half a millionage 65 or older will
develop Alzheimers in the U.S. in 2016.
Two-thirds (3.3 million) of Americans over age 65 with Alzheimers are
women.
Alzheimers disease is the sixth-leading cause of death in the U.S., and the
fifth-leading cause of death for ages 65 and older. From 2000-2013, the
number of Alzheimers deaths increased 71 percent, while deaths from other
major diseases, such as heart disease, breast cancer and HIV, decreased.
individuals, families, government and the nations health care system. Since its 2007
inaugural release, the report has become the preeminent source covering the broad
spectrum of Alzheimers issues. The Facts and Figures report is an official
publication of the Alzheimers Association.
Alzheimers Association
The Alzheimers Association is the leading voluntary health organization in
Alzheimers care, support and research. It is the largest nonprofit funder of
Alzheimers research. The Associations mission is to eliminate Alzheimers disease
through the advancement of research; to provide and enhance care and support for all
affected; and to reduce the risk of dementia through the promotion of brain health. Its
vision is a world without Alzheimers. Visit alz.org or call 800-272-3900.